MIRA INFORM REPORT

Report No. :	312172.2
Report Date :	09.04.2015

IDENTIFICATION DETAILS

Name :	ALUKKAS ENTERPRISES PRIVATE LIMITED
Registered Office :	Alukkas Corporate Office, Marar Road, Thrissur – 680001, Kerala
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.09.2004
Com. Reg. No.:	09-017440
Capital Investment / Paid-up Capital :	Rs. 371.000 Million
CIN No.: [Company Identification No.]	U36911KL2004PTC017440
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAFCA0423M
Legal Form :	Private Limited Liability Company
Line of Business :	Trading in jewellery made of precious metals and in diamond jewellery.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 6450000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term fund based facilities: “BBB+”
Rating Explanation	Have moderate degree of safety and carry moderate credit risk.
Date	December, 2014

Rating Agency Name	ICRA
Rating	Short term fund based facilities: “A2+”
Rating Explanation	Have strong degree of safety and carry low credit risk.
Date	December, 2014

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DECLINED

MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-487-2443791)

LOCATIONS

Registered Office :	Alukkas Corporate Office, Marar Road, Thrissur – 680001, Kerala, India
Tel. No. :	Not Available
Fax No. :	Not Available
E-Mail :	accounts@alukkasgroup.com
Showroom :	Door No. 18, Ward No. 81, Dickeson Road, Bangalore – 560042, Karnataka, India
Showrooms :	Also Located at · Tamilnadu · Andhra Pradesh

DIRECTORS

As on 30.09.2014

Name :

Mr. Alukka Jose John

Designation :

Managing Director

Address :

Alukka House, Aristo Road, East Fort, Thrissur – 680005, Kerala, India

Date of Birth/Age :

28.07.1976

Date of Appointment :

16.09.2004

PAN No.:

ACNPJ7971L

DIN No. :

01299176

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36911KL2004PTC017440	ALUKKAS ENTERPRISES PRIVATE LIMITED	Managing director	16-09-2004	16-09-2004	-	Active	NO
2	U36911KL2007PTC020290	ALUKKAS GOLD RETAIL INDIA PRIVATE LIMITED	Managing director	04-07-2007	04-07-2007	-	Active	NO
3	U70102KL2007PTC021582	ETTEKETTU PROPERTY DEVELOPERS PRIVATE LIMITED	Director	19-12-2007	19-12-2007	-	Active	NO
4	U01400KL2009PTC024226	Applegreen Agro and Dairy Farming Private Limited	Director	26-05-2009	26-05-2009	-	Active	NO
5	U36990KL2011PTC029904	WOODY PACKING MATERIALS PRIVATE LIMITED	Director	30-11-2011	30-11-2011	-	Active	NO
6	U01403KL2012PTC032044	GREEN PLANT NURSERY PRIVATE LIMITED	Director	21-01-2013	21-01-2013	-	Active	NO
7	U70100KL2007PTC021536	ALUKKAS REALTORS INDIA PRIVATE LIMITED	Managing director	21-08-2013	21-08-2013	-	Active	NO

Name :

Mr. Alukka Jose Paul

Designation :

Managing director

Address :

Alukka House, Aristo Road, East Fort, Thrissur – 680005, Kerala, India

Date of Birth/Age :

13.03.1973

Date of Appointment :

16.09.2004

PAN No. :

AFFPP1588J

DIN No. :

01299194

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36911KL2004PTC017440	ALUKKAS ENTERPRISES PRIVATE LIMITED	Managing director	16-09-2004	16-09-2004	-	Active	NO
2	U45202KL2007PTC020191	ALUKKA SHOPPING ARCADES PRIVATE LIMITED	Director	05-01-2007	05-01-2007	30-05-2014	Active	NO
3	U36911KL2007PTC020290	ALUKKAS GOLD RETAIL INDIA PRIVATE LIMITED	Managing director	04-07-2007	31-01-2007	-	Active	NO
4	U55101KL2007PTC021177	ALUKKAS REGENCY PRIVATE LIMITED	Director	05-09-2007	05-09-2007	01-12-2014	Active	NO
5	U70100KL2007PTC021536	ALUKKAS REALTORS INDIA PRIVATE LIMITED	Managing director	21-08-2013	13-12-2007	-	Active	NO
6	U70100KL2007PTC021581	GENERATIONONE REALTORS PRIVATE LIMITED	Director	19-12-2007	19-12-2007	-	Active	NO
7	U92412KL2010PTC026139	TRICHUR SPORTS AND GAMES PRIVATE LIMITED	Director	11-02-2011	11-02-2011	-	Active	NO
8	U92412KL2010PTC026521	SPRINGMIST SPORTS AND GAMES PRIVATE LIMITED	Director	02-03-2011	02-03-2011	-	Active	NO
9	U36100KL2011PTC030065	COREWOOD FURNITURE PRIVATE LIMITED	Director	21-01-2013	21-01-2013	-	Active	NO
10	U21000KL2011PTC030168	GRASSY PAPER MILLS PRIVATE LIMITED	Director	11-03-2013	11-03-2013	24-05-2014	Active	NO
11	U92400KL2010PLC025632	INTEGRATED SPORTS CENTRE KERALA LIMITED	Director	20-03-2014	20-03-2014	-	Active	NO
12	U85110KL2013PLC033228	LIFE ACADEMY OF MEDICAL SCIENCES LIMITED	Director	29-03-2014	29-03-2014	-	Active	NO
13	U92412KL2010PTC026165	MAYFIELD SPORTS AND GAMES PRIVATE LIMITED	Director	26-06-2014	26-06-2014	-	Active	NO
14	U74210KL2014PTC037424	LUMINANCE INFOPARK PRIVATE LIMITED	Director	27-10-2014	27-10-2014	-	Active	NO

Name :

Mr. Alukka Jose Varghese

Designation :

Managing Director

Address :

Alukka House, Aristo Road, East Fort, Thrissur – 680005, Kerala, India

Date of Birth/Age :

13.03.1973

Date of Appointment :

16.09.2004

PAN No. :

ABNPV7397R

DIN No. :

01299242

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36911KL2004PTC017440	ALUKKAS ENTERPRISES PRIVATE LIMITED	Managing director	16-09-2004	16-09-2004	-	Active	NO
2	U36911KL2007PTC020290	ALUKKAS GOLD RETAIL INDIA PRIVATE LIMITED	Managing director	04-07-2007	04-07-2007	-	Active	NO
3	U45202KL2007PTC021583	LANDFILL BUILDERS PRIVATE LIMITED	Director	19-12-2007	19-12-2007	-	Active	NO
4	U01400KL2009PTC024226	Applegreen Agro and Dairy Farming Private Limited	Managing director	26-05-2009	26-05-2009	-	Active	NO
5	U36900KL2010PTC025496	NEOGREEN PACKING MATERIALS PRIVATE LIMITED	Managing director	15-02-2010	15-02-2010	-	Active	NO
6	U92400KL2010PLC025632	INTEGRATED SPORTS CENTRE KERALA LIMITED	Director	05-02-2011	05-02-2011	-	Active	NO
7	U92412KL2010PTC026387	YOUNGFORTE SPORTS AND GAMES PRIVATE LIMITED	Director	07-02-2011	07-02-2011	25-01-2015	Active	NO
8	U92412KL2010PTC026521	SPRINGMIST SPORTS AND GAMES PRIVATE LIMITED	Director	25-10-2011	25-10-2011	-	Active	NO
9	U01300KL2011PTC029933	PALMCOUNTRY AGRO AND DAIRY FARMING PRIVATE LIMITED	Director	20-01-2012	20-01-2012	-	Active	NO
10	U55101KL2007PTC021177	ALUKKAS REGENCY PRIVATE LIMITED	Director	31-01-2012	31-01-2012	01-12-2014	Active	NO
11	U80301KL2012PTC031877	DIVINEWORD EDUCATION ACADEMY PRIVATE LIMITED	Director	21-01-2013	21-01-2013	-	Active	NO
12	U70100KL2007PTC021536	ALUKKAS REALTORS INDIA PRIVATE LIMITED	Managing director	21-08-2013	21-08-2013	-	Active	NO
13	U63020KL2013PTC035182	EARTHLINE CONTAINER DEPOTS PRIVATE LIMITED	Director	23-07-2014	23-07-2014	-	Active	NO
14	U25190KL2013PTC034318	FINERY RUBBER PRODUCTS PRIVATE LIMITED	Director	05-11-2014	05-11-2014	-	Active	NO
15	U92413KL2013PTC033911	PLAYCITY AMUSEMENT PARK PRIVATE LIMITED	Director	16-02-2015	16-02-2015	-	Active	NO
16	AAA-3388	WISHBORN TRADES LLP	Designated Partner	13-01-2011	13-01-2011	-	Active	NO

Name :

Mr. Alukka Varghese Jose

Designation :

Managing Director

Address :

Alukka House, Aristo Road, East Fort, Thrissur – 680005, Kerala, India

Date of Birth/Age :

20.12.1944

Date of Appointment :

16.09.2004

PAN No. :

ACXPJ3932B

DIN No. :

01557327

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U36911KL2004PTC017440	ALUKKAS ENTERPRISES PRIVATE LIMITED	Managing director	16-09-2004	16-09-2004	-	Active	NO
2	U45202KL2007PTC020191	ALUKKA SHOPPING ARCADES PRIVATE LIMITED	Managing director	05-01-2007	05-01-2007	30-05-2014	Active	NO
3	U36911KL2007PTC020290	ALUKKAS GOLD RETAIL INDIA PRIVATE LIMITED	Managing director	31-01-2007	31-01-2007	-	Active	NO
4	U55101KL2007PTC021177	ALUKKAS REGENCY PRIVATE LIMITED	Managing director	05-09-2007	05-09-2007	30-12-2014	Active	NO
5	U70100KL2007PTC021536	ALUKKAS REALTORS INDIA PRIVATE LIMITED	Managing director	13-12-2007	13-12-2007	-	Active	NO
6	U45202KL2007PTC021583	LANDFILL BUILDERS PRIVATE LIMITED	Managing director	19-12-2007	19-12-2007	-	Active	NO
7	U70102KL2007PTC021582	ETTEKETTU PROPERTY DEVELOPERS PRIVATE LIMITED	Managing director	19-12-2007	19-12-2007	-	Active	NO
8	U70100KL2007PTC021581	GENERATIONONE REALTORS PRIVATE LIMITED	Managing director	19-12-2007	19-12-2007	-	Active	NO
9	U92400KL2010PLC025632	INTEGRATED SPORTS CENTRE KERALA LIMITED	Director	08-03-2010	08-03-2010	-	Active	NO
10	U92412KL2010PTC026139	TRICHUR SPORTS AND GAMES PRIVATE LIMITED	Director	07-06-2010	07-06-2010	-	Active	NO
11	U92412KL2010PTC026195	EARLYBIRD SPORTS ACADEMY TRICHUR PRIVATE LIMITED	Director	15-06-2010	15-06-2010	-	Active	NO
12	U92412KL2010PTC026521	SPRINGMIST SPORTS AND GAMES PRIVATE LIMITED	Director	10-08-2010	10-08-2010	-	Active	NO
13	U92412KL2010PTC026165	MAYFIELD SPORTS AND GAMES PRIVATE LIMITED	Director	11-02-2011	11-02-2011	-	Active	NO
14	U52393TG2011PTC076357	JOSE ALUKKAS G S MART PRIVATE LIMITED	Director	07-09-2011	07-09-2011	-	Active	NO
15	U01210KL2012PTC031217	GREEN MEADOWS CATTLE FARM PRIVATE LIMITED	Director	21-01-2013	21-01-2013	30-05-2014	Active	NO
16	U36100KL2011PTC030065	COREWOOD FURNITURE PRIVATE LIMITED	Director	21-01-2013	21-01-2013	-	Active	NO
17	U55101KL2012PTC031779	VOLNY CAS RESORTS PRIVATE LIMITED	Director	21-01-2013	21-01-2013	-	Active	NO
18	U01300KL2011PTC029933	PALMCOUNTRY AGRO AND DAIRY FARMING PRIVATE LIMITED	Director	21-01-2013	21-01-2013	-	Active	NO
19	U85110KL2013PLC033228	LIFE ACADEMY OF MEDICAL SCIENCES LIMITED	Director	01-02-2013	01-02-2013	-	Active	NO
20	AAA-3388	WISHBORN TRADES LLP	Designated Partner	13-01-2011	13-01-2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Alukka Varghese Jose	938	25.28
Alukka Jose Varghese	924	24.91
Alukka Jose Paul	924	24.91
Alukka Jose John	924	24.91
Total	3710	100.00

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trading in jewellery made of precious metals and in diamond jewellery.
Products :	· Jewellery made of Precious Metals · Diamond jewellery
Brand Names :	--
Agencies Held :	--
Exports :	--
Imports :	--
Terms :	--

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

Customers :

Reference:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Not Divulged
Branch:	Not Divulged
Name of the Person (with Designation):	Not Divulged
Contact Number:	Not Divulged
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks: Not Divulged

· ING Vysya Bank Limited, No. Xiii/789/29 31-33 Dee Pee Plaza, T. B. Road, Kokkalai, Thrissur - 680021, Kerala, India

· Axis Bank Limited, Thrissur Branch, Second Floor, City Centre, Thrissur - 680001, Kerala, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Term loans from banks	2.924	1.758
Other loans and advances, others	303.617	340.691
Total	306.541	342.449

Banking Relations :	--
Auditors :
Name :	Gopinathan Associates Chartered Accountants
Address :	8/381/1, Mission Quarters Road, Thrissur, Kerala, India
Income-tax PAN of auditor or auditor's firm :	ACZPG5278K
Memberships :	--
Collaborators :	--
Related Parties :	· Wishborn LLP · Sam Industries · Roys Gold · Modern Electricals, TCR · Deepak Toms · Alukkas Jewellery Thrissur · Alukkas Gold Retail India Private Limited

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3750	Equity Shares	Rs. 100000/- each	Rs. 375.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3,710	Equity Shares	Rs. 100000/- each	Rs. 371.000 Millions

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	371.000	371.000	250.000
(b) Reserves & Surplus	1887.061	1486.918	884.140
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	2258.061	1857.918	1134.140
(3) Non-Current Liabilities
(a) long-term borrowings	306.541	342.449	328.629
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	68.714	51.215	20.914
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	375.255	393.664	349.543
(4) Current Liabilities
(a) Short term borrowings	1855.040	1500.791	1233.663
(b) Trade payables	658.583	602.907	368.152
(c) Other current liabilities	1176.042	906.744	703.470
(d) Short-term provisions	0.000	0.063	143.498
Total Current Liabilities (4)	3689.665	3010.505	2448.783
TOTAL	6322.981	5262.087	3932.466
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	173.647	172.072	151.845
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	101.263	82.767	17.603
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	93.167	95.391	59.477
(c) Deferred tax assets (net)	8.781	6.688	5.104
(d) Long-term Loan and Advances	95.866	90.128	70.334
(e) Other Non-current assets	1.005	0.776	0.549
Total Non-Current Assets	473.729	447.822	304.912
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	5531.364	4626.262	3449.512
(c) Trade receivables	14.183	16.224	7.886
(d) Cash and cash equivalents	214.400	143.335	101.437
(e) Short-term loans and advances	89.300	28.439	68.253
(f) Other current assets	0.005	0.005	0.466
Total Current Assets	5849.252	4814.265	3627.554
TOTAL	6322.981	5262.087	3932.466

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX		NA	NA	NA
Less	TAX		NA	NA	NA
	PROFIT/ (LOSS) AFTER TAX		400.143	602.778	510.747
	Earnings / (Loss) Per Share (Rs.)		107855.26	241111.01	204298.72

KEY RATIOS

PARTICULARS	31.03.2014	31.03.2013	31.03.2012
Debt Equity Ratio (Total Debt/Networth)	0.96	0.99	1.38
Current Ratio (Current Asset/Current Liability)	1.59	1.60	1.48

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	250.000	371.000	371.000
Reserves & Surplus	884.140	1486.918	1887.061
Net worth	1134.140	1857.918	2258.061
Long-term borrowings	328.629	342.449	306.541
Short term borrowings	1233.663	1500.791	1855.040
Total borrowings	1562.292	1843.240	2161.581
Debt/Equity ratio	1.378	0.992	0.957

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

DIAMOND INDUSTRY – INDIA

- From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8^th Century B.C.  India, in fact, remained undisputed leader till 18^th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

- The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

- The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

- Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

- Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

- Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

- Excerpts from Times of India dated 30^th October 2010 is as under –

- Gem and Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry  is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

- The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10545686	31/12/2014	1,000,000,000.00	STATE BANK OF INDIA	SME BRANCH-THRISSUR, MAHESHWARI BUILDING, M.G.ROAD, THRISSUR, THRISSUR, KERALA - 680001, INDIA	C41713900
2	10081449	18/11/2013 *	60,000,000.00	ING VYSYA BANK LIMITED	NO. XIII/789/29 31-33 DEE PEE PLAZA, T. B. ROAD, KOKKALAI, THRISSUR, KERALA - 680021, INDIA	B89839716
3	10000078	09/10/2014 *	1,550,000,000.00	AXIS BANK LIMITED	THRISSUR BRANCH, SECOND FLOOR, CITY CENTRE, THRISSUR, KERALA - 680001, INDIA	C25552100

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
SHORT TERM BORROWINGS
Term loans	1855.040	1500.791
Total	1855.040	1500.791

CHANGE OF ADDRESS

The registered office of the company has been shifted from IVth floor, Pooma Complex, M G Road, Thrissur Main P O, Thrissur – 680001, Kerala, India to the present address w.e.f. 14.07.2008.

GENERAL INFORMATION

Subject is incorporated under the Companies Act, 1956, on 16th September, 2004 with its Registered Office at Thrissur, concentrating on trading in jewellery made of precious metals and in diamond jewellery.

COMPANY’S AFFAIRS:

During the year the company further intensified its activities. During the year under consideration, the company could open a new showroom, at Kukatpally. In the year, all the existing jewellery show rooms of the company could record good sales turnover and could achieve reasonable net profit, in spite of the fact that the industry got a set back. The directors are extremely happy to announce that in the year under reference, the company could post a net profit of Rs.400.143 Millions after providing for depreciation and all taxes. However, the directors have noted the Central Government has not declared any major change in the Policy on gold import. Gold rate in the international market has come down substantially but it has not affected Indian market adversely, due to highy $ rate. The directors are seriously thinking about the possible course of action to face the market situation.

FIXED ASSETS

Tangible Assets

· Land

· Buildings

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

· Other Equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.33
UK Pound	1	Rs.92.53
Euro	1	Rs.67.60

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	RAS
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/ NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.